Category Archives: Bank of England

Bitcoin faces regulatory crackdown, Bank of England warns

Cryptocurrencies inherently risky and fail most basic function as money, says Mark Carney

The Bank of England has warned that bitcoin faces a regulatory crackdown, warning that “inherently risky” cryptocurrencies are failing to fulfil their most basic function as money.

Mark Carney, the Bank’s governor, used a speech in London on Friday to attack a situation of “anarchy” in the trading of cryptocurrencies, with the market having grown rapidly on unregulated exchanges. He said the time had come to “regulate elements of the crypto-asset ecosystem to combat illicit activities”.

Continue reading…
Source: gadt